Peoples Bank buying Salt Lick Deposit Bank

Peoples Bank of Kentucky, which has six branches in Fleming and Mason counties, announced this week it is acquiring Salt Lick Deposit Bank in Bath County.

Financial terms were not disclosed.

Under the agreement, Salt Lick Deposit Bank's two branches will operate under the Peoples Bank name.

Salt Lick Deposit Bank is a subsidiary of Central Bancshares, which operates Central Bank. The deal is expected to close after receiving required regulatory approvals.